In recent years, the demand for sustainable agriculture has surged, pushing biofertilizers into the spotlight. As the world moves toward eco-friendly and organic farming solutions, biofertilizers—natural fertilizers containing living microorganisms—have become essential for improving soil fertility and plant growth. The global market for these eco-conscious solutions is rapidly expanding, and 2024 is proving to be a pivotal year.
A recent report from Pristine Market Insights has unveiled the global market revenue share by company for biofertilizers in 2024, giving us a clearer picture of the key players shaping this vital industry. Let’s take a closer look at the leaders in the field and how the market is distributed.
🌿 Top Companies in the Biofertilizer Market (2024)
1. Novonesis Group – 12.4%
Leading the pack is Novonesis Group, commanding a significant 12.4% share of the global biofertilizer market. Their consistent investment in biotechnology and microbial innovation has cemented their place at the forefront of sustainable agriculture.
2. Corteva, Inc. – 10.1%
A close second is Corteva, a powerhouse in the agri-science sector. Their integrated seed and crop protection solutions, along with a focus on sustainability, have made them a key player in biofertilizer development.
3. Lallemand Inc. – 8.6%
Known for its expertise in microbial fermentation, Lallemand holds a strong 8.6% share. The company's work in developing microbial-based products for plant health continues to push the industry forward.
4. BASF SE – 7.7%
As a global chemical giant, BASF has been making steady inroads into the biological segment. With a 7.7% market share, its commitment to environmentally friendly solutions is paying off.
5. UPL Limited – 6.9%
UPL Limited, a global provider of sustainable agricultural solutions, is not far behind with 6.9%. Their expansion into bio-based products aligns with their mission to transform agriculture into a net-positive system.
6. Syngenta – 5.6%
With strong R&D capabilities, Syngenta has carved out a 5.6% market share. Their focus on biologicals reflects a broader industry trend toward green solutions.
7. Bioceres S.A. – 4.9%
Bioceres, based in Latin America, has become a prominent name in ag-biotech, holding 4.9% of the market. Their innovative solutions for soil and crop health have resonated globally.
8. Coromandel Intl. Ltd. – 4.2%
India’s Coromandel continues to be a domestic leader in biofertilizers, with a 4.2% share driven by increasing demand for organic farming in South Asia.
9. Koppert – 3.5%
Dutch-based Koppert Biological Systems maintains a 3.5% share by offering sustainable crop management products and focusing on integrated pest and disease control.
10. IFFCO – 2.7%
Another Indian firm, IFFCO, captures 2.7% of the market. Their cooperative model and support for Indian farmers make them a notable player in developing economies.
11. NFL – 2.1%
National Fertilizers Limited (NFL) rounds out the list of significant players with 2.1%, reflecting growing state-led initiatives toward greener farming practices.
🌍 The Remaining Market: “Others” – 31.3%
While the top companies hold a major portion of the market, over 31.3% is still occupied by other emerging players and startups. This shows that there is plenty of room for innovation and growth, particularly for regional companies and new entrants.
🔍 What This Means for the Future
The biofertilizer market is becoming increasingly competitive and dynamic. With environmental concerns and regulatory pressures mounting, the shift toward sustainable inputs is not just a trend—it’s a necessity. Companies investing in research, innovation, and scalable production of biofertilizers are likely to dominate the market in the coming years.
For farmers, agribusinesses, and stakeholders in the agricultural supply chain, these insights provide a roadmap for aligning with leaders in the field and adopting more sustainable practices.
📈 Final Thoughts
2024 is proving to be a transformative year for the biofertilizer industry. With giants like Novonesis, Corteva, and Lallemand leading the way, and a vibrant community of smaller innovators making up over 30% of the market, the industry is ripe with opportunity. As the world continues to seek climate-smart agricultural solutions, biofertilizers will remain a key tool in building a more resilient and sustainable food system.
%20(2).png)
0 Comments